Since its launch in October of last year, the Central Bank of Nigeria’s (CBN) e-Naira digital currency platform has processed N4 billion in transactions.
“Since the launch of this great initiative, the e-Naira has reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets and 17,000 merchant wallets,” said CBN Governor Mr. Godwin Emefiele, who provided this update during the grand finale of the e-Naira Hackathon event in Abuja yesterday.
“The platform’s transaction volume and value have also been impressive, surpassing 200,000 and N4 billion, respectively.”
Despite the initiative’s achievements, Emefiele revealed that the apex bank has begun the second phase of the e-Naira in partnership with private sector operators.
“The project’s second phase, which aims to promote financial inclusion by onboarding underprivileged and unbanked people through offline channels, has started despite this noteworthy progress.
According to estimates made using the diffusion of innovation model, “Therefore, a higher level of success is anticipated for the project, with phase two expected to deliver more gains with a target of about 8,000,000 active users,” he stated.
He went on to say that CBN is still strategically guiding the Naira’s future by striking a balance between innovation and monetary stability.
